SCYNEXIS Completes Transformative Acquisition of PXL-770, an innovative, highly selective, direct AMPK activator for the Treatment of Autosomal Dominant Polycystic Kidney Disease (ADPKD)

Rhea-AI Summary

SCYNEXIS (NASDAQ: SCYX) completed a transformative asset acquisition of PXL-770 (now SCY-770), a clinical-stage oral, selective direct AMPK activator for autosomal dominant polycystic kidney disease (ADPKD). The company will pursue a Phase 2 proof-of-concept study beginning in Q4 2026, with an early efficacy readout expected in H2 2027. SCY-770 has U.S. FDA Orphan Drug Designation. Transaction terms include an $8 million upfront payment plus up to $8 million in development milestones and up to $180 million in commercial milestones.

Positive

• Orphan Drug Designation for SCY-770
• SCY-770 evaluated in eight clinical trials with favorable safety
• Phase 2 POC start targeted in Q4 2026 with H2 2027 readout
• Acquisition expands SCYNEXIS pipeline into ADPKD

Negative

• Contingent payments total up to $188 million (development + commercial)
• Clinical proof deferred until H2 2027, creating near-term development risk

Key Figures

Completed clinical trials: 8 trials Phase 2 start: Q4 2026 Early efficacy readout: Second half 2027 +5 more

8 metrics

Completed clinical trials 8 trials SCY-770 prior clinical evaluation

Phase 2 start Q4 2026 Planned proof-of-concept study in ADPKD

Early efficacy readout Second half 2027 Planned SCY-770 Phase 2 PoC

Upfront payment $8 million Asset acquisition payment to Poxel

Development milestones Up to $8 million Contingent SCY-770 development payments

Commercial milestones Up to $180 million Potential SCY-770 commercial milestones

Sales-triggered milestone $125 million Triggered by annual net sales at or above $1 billion

Conference call time 8:30 a.m. ET, Mar 31 2026 Corporate update and acquisition discussion

Market Reality Check

Price: $0.7897 Vol: Volume 81,424 is below th...

low vol

$0.7897 Last Close

Volume Volume 81,424 is below the 20-day average 288,012, suggesting limited pre-news positioning. low

Technical Shares at 0.7897 were trading above the 200-day MA of 0.76 ahead of the acquisition news.

Peers on Argus

SCYX was down 2.85% pre-announcement while only one peer (GELS) appeared on mome...

1 Down

SCYX was down 2.85% pre-announcement while only one peer (GELS) appeared on momentum scanners, moving down ~4.84%. Other close peers showed mixed, mostly modest moves, pointing to stock-specific rather than broad sector dynamics.

Historical Context

5 past events · Latest: Mar 04 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 04	Full-year earnings	Positive	+2.3%	Stronger 2025 revenue, $56.3M cash and >2-year runway with pipeline progress.
Feb 26	Clinical trial start	Positive	-0.7%	First participants dosed in Phase 1 IV SCY-247 trial for invasive candidiasis.
Jan 28	Scientific presentations	Positive	-3.2%	Data presentations on SCY-247’s potent antifungal activity and safety profile.
Jan 21	Regulatory designations	Positive	+4.0%	FDA QIDP and Fast Track designations for SCY-247 with planned 2026 trials.
Dec 22	Nasdaq compliance	Negative	-2.3%	180-day extension to regain Nasdaq minimum bid compliance and reverse split option.

Pattern Detected

Recent history shows mixed reactions: some positive fundamental updates saw selling, while regulatory or designation wins tended to align with price gains.

Recent Company History

Over the last six months, SCYNEXIS has focused on advancing its antifungal pipeline and stabilizing its listing. Key milestones included QIDP and Fast Track designations for SCY-247, initiation of an IV Phase 1 study, and multiple scientific presentations. Financially, 2025 results highlighted higher revenue and a cash runway exceeding two years. The Nasdaq bid-price extension underscored listing risk. Today’s ADPKD asset acquisition adds a new rare-disease program alongside this existing SCY-247 strategy.

Market Pulse Summary

This announcement expands SCYNEXIS beyond antifungals into ADPKD via acquisition of SCY‑770, a direc...

Analysis

This announcement expands SCYNEXIS beyond antifungals into ADPKD via acquisition of SCY‑770, a direct AMPK activator with data from 8 clinical trials and Orphan Drug Designation. A Phase 2 proof‑of‑concept study is planned for Q4 2026 with early efficacy in the second half of 2027. Investors may track integration of this program alongside SCY‑247, capital needs given the $8 million upfront and milestone structure, and progress toward Nasdaq bid-price compliance.

Key Terms

autosomal dominant polycystic kidney disease, orphan drug designation, proof-of-concept, phase 2, +1 more

5 terms

autosomal dominant polycystic kidney disease medical

"for the Treatment of Autosomal Dominant Polycystic Kidney Disease (ADPKD)"

A hereditary kidney disorder in which fluid-filled sacs (cysts) form and grow on the kidneys, often caused when a single parent passes down a faulty gene. Over time the cysts can reduce kidney function and lead to serious health care needs, making it important to investors because it drives demand for diagnostic tests, drugs, medical devices and long-term care, and influences clinical trial activity and regulatory milestones.

orphan drug designation regulatory

"SCY-770 has been granted Orphan Drug Designation by the U.S. Food and Drug Administration"

Orphan drug designation is a special status given to medicines developed to treat rare diseases affecting only a small number of people. This status often provides benefits like faster approval processes and financial incentives, making it more attractive for companies to develop these drugs. For investors, it signals potential for exclusive market rights and reduced competition, which can impact the drug’s profitability.

proof-of-concept medical

"A Phase 2 proof-of-concept study of SCY-770 in ADPKD patients is anticipated"

A proof-of-concept is a demonstration that shows a new idea or method can work as intended, serving as a small-scale test before full development. For investors, it signals that a concept has been successfully tested in principle, reducing uncertainty about whether it can be practically implemented. This helps determine if further investment or effort is justified to develop the idea further.

phase 2 medical

"A Phase 2 proof-of-concept study of SCY-770 in ADPKD patients is anticipated"

Phase 2 is the mid-stage clinical trial where a new drug or treatment is tested in a larger group of patients to see if it works and to keep checking safety after initial human testing. Think of it as a field test that proves whether a product actually delivers its promised benefit. Investors watch Phase 2 closely because its results strongly influence a medicine’s chances of reaching the market, the size of its potential sales, and the company’s valuation.

renal replacement therapy medical

"Patients face a substantial lifelong burden, often requiring renal replacement therapy"

Renal replacement therapy is medical treatment that takes over the job of failing kidneys by removing waste and excess fluid from the blood, most commonly through dialysis or by restoring kidney function with a transplant. Investors care because these therapies drive demand for machines, supplies, drugs and ongoing care services, creating predictable revenue streams, regulatory and reimbursement risks, and sensitive cost pressures—think of it as a lifeline device market that must be paid for continuously.

AI-generated analysis. Not financial advice.

• PXL-770 (now SCY-770) is a clinical stage, well-characterized oral therapy designed to address the underlying drivers of ADPKD by reducing cyst growth and disease progression
  
• A Phase 2 proof-of-concept study of SCY-770 in ADPKD patients is anticipated to begin in Q4 2026 with an early efficacy readout anticipated in the second half of 2027
  
• With this acquisition, SCYNEXIS strengthens its mission to develop innovative solutions for severe and rare diseases, unlocking further opportunities for value creation
  
  

SCYNEXIS will host a conference call on March 31, 2026 at 8:30 a.m. ET to provide a corporate update.

JERSEY CITY, N.J., March 31, 2026 (GLOBE NEWSWIRE) -- SCYNEXIS, Inc. (NASDAQ: SCYX), a biotechnology company focused on developing innovative new therapies to address severe rare diseases, today announced that it has entered into a definitive agreement with Poxel S.A. (POXEL.PA) to acquire PXL-770 (now SCY-770).

SCY-770 is a novel, highly selective, direct AMP-activated protein kinase (AMPK) activator for the treatment of ADPKD, the leading genetic cause of end-stage renal failure. SCY-770 is designed to address many of the underlying drivers of ADPKD by reducing cyst growth and disease progression.

SCY-770 is an oral therapy that has been evaluated in eight clinical trials, with a favorable safety profile. SCYNEXIS is expected to begin a Phase 2 proof-of-concept study in ADPKD patients in Q4 2026, with an anticipated early efficacy readout in second half of 2027. SCY-770 has been granted Orphan Drug Designation by the U.S. Food and Drug Administration (FDA).

“We are excited about this transformative asset acquisition, strengthening our pipeline, and dedicating our development expertise and resources to tackle severe and rare diseases,” said David Angulo, M.D., President and Chief Executive Officer of SCYNEXIS. “SCY-770 is supported by a strong pre-clinical data package and a novel differentiated MOA that targets multiple key drivers of ADPKD progression, positioning it as a promising candidate in a significant rare disease market with a high unmet need. Our near-term priority is to efficiently advance SCY-770 into a Phase 2 POC study later this year. We look forward to advancing the standard of care for patients with ADKPD.”

“ADPKD is a progressive disease characterized by the growth of kidney cysts that ultimately leads to end-stage kidney disease,” said Dr. Kenneth Hallows, MD, PhD, Nephrologist, System Division Chief, Nephrology Professor, Larner College of Medicine, University of Vermont Health. “Patients face a substantial lifelong burden, often requiring renal replacement therapy. Despite the significant unmet need, treatment options remain limited with only one approved therapy, which is associated with safety concerns and suboptimal tolerability. It is encouraging to see a new therapeutic candidate advancing in development, particularly one with a promising MOA that has the potential to deliver a meaningful clinical benefit to a broad population of patients in need.”

Terms of Acquisition Agreement

Under the terms of the asset acquisition agreement, SCYNEXIS will make an upfront payment of $8 million, with future potential payments of up to $8 million in development milestones, and up to $180 million in commercial milestones, of which $125 million is triggered by annual net sales at or above $1 billion.

Conference call and webcast details

SCYNEXIS will host a live conference call on Tuesday, March 31, 2026 at 8:30 am ET to provide a corporate update and discuss the asset acquisition.

Conference call details:

Date: Tuesday, March 31, 2026
Time: 8:30 AM ET
Dial in: U.S/Domestic: 1-877-704-4453 or International: 201-389-0920
Conference ID: 13759746

Interested parties may access the webcast by clicking here

About ADPKD

Autosomal Dominant Polycystic Kidney Disease (ADPKD) is a genetic disease caused by mutations of the PKD1 or PKD2 genes which encode polycystin complex 1 (PC1) or polycystin complex 2 (PC2) proteins, critical for normal tubular epithelial cell function. Patients develop fluid-filled cysts in their kidneys that progressively impair their kidney function with more than 50% reaching end-stage renal failure in their 60s requiring renal replacement therapies (e.g., dialysis or transplant). The U.S. prevalence of ADPKD is estimated to be 140,000 patients¹, with approximately 6,000 new cases diagnosed each year². ADPKD currently has only one approved therapy, Jynarque (tolvaptan), which achieved approximately $1.5 billion in U.S. sales in 2024 despite limited patient uptake due to safety, tolerability, and monitoring requirements.

About SCY-770

SCY-770 (formerly known as PXL-770), a novel and highly selective, direct AMP-activated protein kinase (AMPK) activator, is being developed as a disease‑modifying therapy for ADPKD, a progressive genetic kidney disorder with significant unmet medical need. SCY-770 has been evaluated in several Phase 1 trials and one Phase 2a trial in patients with nonalcoholic fatty liver disease (NAFLD). Compelling preclinical pharmacology data supports its potential utility in ADPKD. The Company aims to develop SCY-770 with the goal of reducing cyst growth and disease progression and improving patient quality of life.

About the Antifungal Business
The Company developed and obtained multiple FDA approvals for BREXAFEMME, the first representative of a new class of antifungals in more than 20 years, and has outlicensed it to GSK. SCYNEXIS has the potential to receive up to $146 million in annual net sales milestones plus net royalties in the low-to-mid-single digits for the commercialization of BREXAFEMME by GSK. The Company’s second-generation antifungal, SCY-247, is currently in a Phase 1 trial of the IV formulation, with data expected in Q3 2026. SCY-247 has received QIDP, Fast Track and Orphan Drug designation from the FDA. SCYNEXIS will continue to pursue non-dilutive funding opportunities to further support its development. Additional antifungal assets from this novel class are currently in pre-clinical and discovery phases.

About SCYNEXIS
SCYNEXIS, Inc. (NASDAQ: SCYX) is dedicated to advancing innovative solutions for severe rare diseases. SCY-770 is being developed for the treatment of Autosomal Dominant Polycystic Kidney Disease (ADPKD) and has been granted Orphan Drug designation. SCYNEXIS’s proprietary antifungal platform “fungerps” includes BREXAFEMME^® (ibrexafungerp tablets), the first approved representative of this novel class, which has been licensed to GSK, and SCY-247, currently in clinical stages of development. For more information, visit www.scynexis.com.

Forward-Looking Statements

Statements contained in this press release regarding expected future events or results are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to statements regarding: Proof-of-concept Phase 2 study in ADPKD to begin in Q4 2026 with early efficacy readout anticipated in 2H 2027; the potential of SCY-770 to treat patients with ADPKD; the Company plans to continue its Phase 1 trial of the IV formulation of SCY-247 with data expected in Q3 2026; and receipt of future payments from GSK on sales of BREXAFEMME. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, risks inherent in regulatory and other costs in developing products. These and other risks are described more fully in SCYNEXIS’ filings with the Securities and Exchange Commission (the “SEC”), including without limitation, the section titled “Risk Factors” in its most recent Annual Report on Form 10-K filed on March 4, 2026, and in other filings the Company makes with the SEC from time to time. All forward-looking statements contained in this press release speak only as of the date on which they were made. SCYNEXIS undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

CONTACT:
Investor Relations
Irina Koffler
LifeSci Advisors
Tel: 917-734-7387
ikoffler@lifesciadvisors.com

¹ Willey C, et.al. Analysis of Nationwide Data to Determine the Incidence and Diagnosed Prevalence of Autosomal Dominant Polycystic Kidney Disease in the USA: 2013-2015. Kidney Dis (Basel). 2019 Mar;5(2):107-117;
² Barnawi RA, et al. Is the light at the end of the tunnel nigh? A review of ADPKD burden of disease and tolvaptan as a new treatment. Int J Nephrol Renovasc Dis. 2018 Feb 1;11:53-67

FAQ

What did SCYNEXIS (SCYX) acquire on March 31, 2026?

SCYNEXIS acquired PXL-770 (now SCY-770), a clinical-stage oral AMPK activator for ADPKD treatment. According to the company, SCY-770 is a selective direct AMPK activator with Orphan Drug Designation and has been evaluated in eight clinical trials showing a favorable safety profile.

When will SCYNEXIS (SCYX) start the Phase 2 study of SCY-770?

SCYNEXIS expects to begin a Phase 2 proof-of-concept study for SCY-770 in Q4 2026 in ADPKD patients. According to the company, an early efficacy readout is anticipated in the second half of 2027, marking the first clinical signal timeline for this program.

How much did SCYNEXIS (SCYX) agree to pay for PXL-770 and what are the milestone terms?

SCYNEXIS will pay an $8 million upfront fee plus contingent milestone payments tied to development and sales. According to the company, there are up to $8 million in development milestones and up to $180 million in commercial milestones, including $125 million tied to ≥$1 billion annual net sales.

What does FDA Orphan Drug Designation mean for SCY-770 (SCYX)?

Orphan Drug Designation gives regulatory incentives and potential exclusivity benefits for SCY-770 in ADPKD. According to the company, the designation may help accelerate development and improve commercial prospects for this rare-disease therapy, though regulatory approval still requires successful clinical trials.

How might the PXL-770 acquisition affect SCYNEXIS (SCYX) shareholders?

The acquisition adds a clinical-stage rare-disease asset that could enhance long-term value if trials succeed. According to the company, advancing SCY-770 into Phase 2 could create upside, but contingent milestone obligations and clinical risk remain important considerations for shareholders.

When and how can investors join SCYNEXIS (SCYX) conference call on March 31, 2026?

SCYNEXIS will host a live conference call on March 31, 2026 at 8:30 AM ET to discuss the acquisition and corporate update. According to the company, dial-in numbers and a webcast are available for investors to access the live presentation and Q&A.